Live News • May 16
Enterprise Products Partners Tops Q1 Revenue Forecasts and Expands Growth Project Pipeline Enterprise Products Partners reported first-quarter 2026 revenue ahead of expectations and an 8% year-over-year increase in operating income, supported by operational improvements and new asset integration.
The partnership has two additional natural gas processing facilities planned in the Permian Basin for 2027 and is currently constructing US$5.3b of major capital projects, including pipeline and export terminal expansions.
Enterprise raised its 2026 growth capital expenditure budget to a range of US$2.3b to US$2.6b, while maintaining a leverage ratio of 3.2x and holding US$3.3b in available credit capacity and unrestricted cash, and it reports no major planned downtime ahead for its PDH plants following maintenance.
The combination of above-expectation revenue, higher operating income and a large, funded project backlog indicates a company that is actively building out its midstream footprint while keeping balance sheet metrics in check.
Investors may wish to monitor execution risk around the sizeable capital program and the timing of new assets entering service, as any delays or cost overruns could affect the economic outcomes of these projects. Reported Earnings • Apr 29
First quarter 2026 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2026 results: EPS: US$0.68 (up from US$0.64 in 1Q 2025). Revenue: US$14.4b (down 6.7% from 1Q 2025). Net income: US$1.48b (up 7.4% from 1Q 2025). Profit margin: 10% (up from 9.0% in 1Q 2025). The increase in margin was driven by lower expenses. Revenue exceeded analyst estimates by 5.7%. Earnings per share (EPS) missed analyst estimates by 4.2%. Revenue is forecast to grow 4.4% p.a. on average during the next 3 years, compared to a 3.8% growth forecast for the Oil and Gas industry in the US. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 15% per year, which means it is tracking significantly ahead of earnings growth. Major Estimate Revision • Apr 28
Consensus revenue estimates increase by 11% The consensus outlook for fiscal year 2026 has been updated. 2026 revenue forecast increased from US$53.3b to US$59.2b. EPS estimate unchanged at US$2.87. Net income forecast to grow 8.9% next year vs 37% growth forecast for Oil and Gas industry in the US. Consensus price target up from US$39.33 to US$40.15. Share price rose 3.4% to US$38.47 over the past week. Upcoming Dividend • Apr 26
Upcoming dividend of US$0.55 per share Eligible shareholders must have bought the stock before 30 April 2026. Payment date: 14 May 2026. Payout ratio is on the higher end at 82%, and the cash payout ratio is above 100%. Trailing yield: 5.8%. Within top quartile of American dividend payers (4.3%). Higher than average of industry peers (3.3%). Declared Dividend • Apr 12
Fourth quarter dividend of US$0.55 announced Shareholders will receive a dividend of US$0.55. Ex-date: 30th April 2026 Payment date: 14th May 2026 Dividend yield will be 5.9%, which is higher than the industry average of 4.5%. Sustainability & Growth Dividend is covered by earnings (82% earnings payout ratio) but not covered by cash flows (160% cash payout ratio). The dividend has increased by an average of 3.8% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 23% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Apr 10
Enterprise Products Partners L.P. Declares Quarterly Distribution for First Quarter of 2026, Payable on May 14, 2026 Enterprise Products Partners L.P. announced that the board of directors of its general partner declared a quarterly cash distribution to be paid to Enterprise common unitholders with respect to the first quarter of 2026 of $0.55 per unit, or $2.20 per unit on an annualized basis. The quarterly distribution will be paid May 14, 2026, to common unitholders of record as of the close of business April 30, 2026. This distribution represents a 2.8% increase over the distribution declared with respect to the first quarter of 2025. Announcement • Apr 09
Enterprise Products Partners L.P. to Report Q1, 2026 Results on Apr 28, 2026 Enterprise Products Partners L.P. announced that they will report Q1, 2026 results Pre-Market on Apr 28, 2026 Reported Earnings • Mar 04
Full year 2025 earnings: EPS and revenues exceed analyst expectations Full year 2025 results: EPS: US$2.66 (down from US$2.69 in FY 2024). Revenue: US$52.6b (down 6.4% from FY 2024). Net income: US$5.81b (flat on FY 2024). Profit margin: 11% (in line with FY 2024). Revenue exceeded analyst estimates by 1.1%. Earnings per share (EPS) also surpassed analyst estimates by 1.8%. Revenue is forecast to grow 4.5% p.a. on average during the next 3 years, compared to a 4.1% growth forecast for the Oil and Gas industry in the US. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 13% per year, which means it is tracking significantly ahead of earnings growth. Recent Insider Transactions Derivative • Feb 20
Key Executive exercised options and sold US$7.0m worth of stock On the 16th of February, Randa Duncan Williams exercised options to acquire 190k shares at no cost and sold these for an average price of US$36.75 per share. This trade did not impact their existing holding. Since March 2025, Randa's direct individual holding has increased from 22.80m shares to 22.85m. Company insiders have collectively sold US$21m more than they bought, via options and on-market transactions in the last 12 months. Reported Earnings • Feb 04
Full year 2025 earnings: EPS and revenues exceed analyst expectations Full year 2025 results: EPS: US$2.66 (down from US$2.69 in FY 2024). Revenue: US$52.6b (down 6.4% from FY 2024). Net income: US$5.81b (flat on FY 2024). Profit margin: 11% (in line with FY 2024). Revenue exceeded analyst estimates by 1.1%. Earnings per share (EPS) also surpassed analyst estimates by 1.8%. Revenue is forecast to grow 3.9% p.a. on average during the next 3 years, compared to a 5.2% decline forecast for the Oil and Gas industry in the US. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 11% per year, which means it is tracking significantly ahead of earnings growth. Board Change • Feb 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 8 highly experienced directors. Independent Director of Enterprise Products Holdings LLC Becca Followill was the last director to join the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Upcoming Dividend • Jan 26
Upcoming dividend of US$0.55 per share Eligible shareholders must have bought the stock before 30 January 2026. Payment date: 13 February 2026. Payout ratio is on the higher end at 82%, and the cash payout ratio is above 100%. Trailing yield: 6.7%. Within top quartile of American dividend payers (4.3%). Higher than average of industry peers (3.8%). Declared Dividend • Jan 12
Third quarter dividend of US$0.55 announced Shareholders will receive a dividend of US$0.55. Ex-date: 30th January 2026 Payment date: 13th February 2026 Dividend yield will be 6.8%, which is higher than the industry average of 4.5%. Sustainability & Growth Dividend is covered by earnings (82% earnings payout ratio) but not covered by cash flows (152% cash payout ratio). The dividend has increased by an average of 3.8% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 18% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Dec 17
Exxon Mobil Corporation (NYSE:XOM) completed the acquisition of 40% stake in Bahia Natural Gas Liquids Pipeline from Enterprise Products Partners L.P. (NYSE:EPD). Exxon Mobil Corporation (NYSE:XOM) executed an agreement to acquire 40% stake in Bahia Natural Gas Liquids Pipeline from Enterprise Products Partners L.P. (NYSE:EPD) for $650 million on November 20, 2025. Pursuant to the agreement, ExxonMobil will contribute its proportionate share of Bahia project costs to date, or approximately $650 million, subject to customary adjustments. The closing of the transaction is subject to regulatory approvals. The transaction is expected by early 2026.
Exxon Mobil Corporation (NYSE:XOM) completed the acquisition of 40% stake in Bahia Natural Gas Liquids Pipeline from Enterprise Products Partners L.P. (NYSE:EPD) on December 15, 2025. Announcement • Nov 22
Enterprise Products Partners L.P. Announces Election of Michael C. “Tug” Hanley as Executive Vice President and Chief Commercial Officer,Effective December 1, 2025 Enterprise Products Partners L.P. announced that the board of directors of its general partner has elected Michael C. “Tug” Hanley as executive vice president and chief commercial officer with responsibility for all commercial functions for the partnership effective December 1, 2025. Mr. Hanley joined Enterprise in 2006. His nearly twenty years of experience includes roles of increasing responsibility across our commercial businesses as well as the partnership’s scheduling, distribution and logistics functions. Enterprise’s commercial leadership team, which includes James P. Bany, senior vice president Crude Oil Pipeline and Terminals; F. Christopher D’Anna, senior vice president Petrochemical Services; Natalie K. Gayden, senior vice president Natural Gas; Justin Kleiderer, senior vice president Pipelines and Terminals; Zachary S. Strait senior vice president Unregulated NGLs and Tyler A. Cott, senior vice president Hydrocarbon Marketing, will report to Mr. Hanley who in turn will report to A.J. “Jim” Teague, co-chief executive officer of Enterprise’s general partner. Reported Earnings • Nov 02
Third quarter 2025 earnings: Revenues exceed analysts expectations while EPS lags behind Third quarter 2025 results: EPS: US$0.61 (down from US$0.65 in 3Q 2024). Revenue: US$12.0b (down 13% from 3Q 2024). Net income: US$1.34b (down 4.6% from 3Q 2024). Profit margin: 11% (in line with 3Q 2024). Revenue exceeded analyst estimates by 1.9%. Earnings per share (EPS) missed analyst estimates by 11%. Revenue is forecast to stay flat during the next 3 years compared to a 3.3% growth forecast for the Oil and Gas industry in the US. Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has increased by 7% per year. Declared Dividend • Oct 10
Second quarter dividend of US$0.55 announced Shareholders will receive a dividend of US$0.55. Ex-date: 31st October 2025 Payment date: 14th November 2025 Dividend yield will be 7.0%, which is higher than the industry average of 4.5%. Sustainability & Growth Dividend is covered by earnings (80% earnings payout ratio) but not covered by cash flows (112% cash payout ratio). The dividend has increased by an average of 4.1% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 14% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Aug 23
Enterprise Products Partners L.P. (NYSE:EPD) completed the acquisition of Midland Basin gas gathering assets of Occidental Petroleum Corporation (NYSE:OXY). Enterprise Products Partners L.P. (NYSE:EPD) entered into an agreement to acquire Midland Basin gas gathering assets of Occidental Petroleum Corporation (NYSE:OXY) for $580 million in July 2025. A cash consideration of $580 million will be paid towards the assets of Midland Basin gas gathering assets.
The transaction is subject to customary closing conditions and regulatory approval, including the expiration or termination of the Hart-Scott-Rodino Act waiting period. The expected completion of the transaction is in the third quarter of 2025. The proceeds from the sale will be used for debt reduction.
Enterprise Products Partners L.P. (NYSE:EPD) completed the acquisition of Midland Basin gas gathering assets of Occidental Petroleum Corporation (NYSE:OXY) on August 22, 2025. Enterprise Products Partners L.P. completed the acquisition of Midland Basin gas gathering assets for $580 million in cash consideration on a debt-free transaction. Troutman Pepper Locke and Sidley Austin LLP served as legal advisors to Enterprise, and Skadden, Arps, Slate, Meagher & Flom LLP and Taylor Pullins, Chad McCormick, Neil Clausen, Jason McCoy and George Paul of White & Case LLP served as legal advisors to Occidental. Announcement • Aug 07
Enterprise Products Partners L.P. (NYSE:EPD) entered into an agreement to acquire Midland Basin gas gathering assets of Occidental Petroleum Corporation (NYSE:OXY) for $580 million. Enterprise Products Partners L.P. (NYSE:EPD) entered into an agreement to acquire Midland Basin gas gathering assets of Occidental Petroleum Corporation (NYSE:OXY) for $580 million in July 2025. A cash consideration of $580 million will be paid towards the assets of Midland Basin gas gathering assets.
The transaction is subject to customary closing conditions and regulatory approval, including the expiration or termination of the Hart-Scott-Rodino Act waiting period. The expected completion of the transaction is in the third quarter of 2025. The proceeds from the sale will be used for debt reduction. Reported Earnings • Jul 29
Second quarter 2025 earnings: EPS exceeds analyst expectations while revenues lag behind Second quarter 2025 results: EPS: US$0.67 (up from US$0.63 in 2Q 2024). Revenue: US$11.4b (down 16% from 2Q 2024). Net income: US$1.47b (up 5.8% from 2Q 2024). Profit margin: 13% (up from 10% in 2Q 2024). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 20%. Earnings per share (EPS) exceeded analyst estimates by 1.6%. Revenue is forecast to stay flat during the next 3 years compared to a 3.4% growth forecast for the Oil and Gas industry in the US. Over the last 3 years on average, earnings per share has increased by 5% per year whereas the company’s share price has increased by 6% per year. Upcoming Dividend • Jul 25
Upcoming dividend of US$0.55 per share Eligible shareholders must have bought the stock before 31 July 2025. Payment date: 14 August 2025. Payout ratio is on the higher end at 80%, and the cash payout ratio is above 100%. Trailing yield: 6.8%. Within top quartile of American dividend payers (4.6%). Higher than average of industry peers (4.0%). Declared Dividend • Jul 11
First quarter dividend of US$0.55 announced Shareholders will receive a dividend of US$0.55. Ex-date: 31st July 2025 Payment date: 14th August 2025 Dividend yield will be 6.7%, which is higher than the industry average of 4.5%. Sustainability & Growth Dividend is covered by earnings (80% earnings payout ratio) but not covered by cash flows (123% cash payout ratio). The dividend has increased by an average of 3.9% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 17% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Apr 29
First quarter 2025 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2025 results: EPS: US$0.64 (down from US$0.66 in 1Q 2024). Revenue: US$15.4b (up 4.5% from 1Q 2024). Net income: US$1.39b (down 3.3% from 1Q 2024). Profit margin: 9.0% (in line with 1Q 2024). Revenue exceeded analyst estimates by 10%. Earnings per share (EPS) missed analyst estimates by 10%. Revenue is forecast to grow 5.5% p.a. on average during the next 3 years, compared to a 3.6% growth forecast for the Oil and Gas industry in the US. Over the last 3 years on average, earnings per share has increased by 7% per year whereas the company’s share price has increased by 6% per year. Upcoming Dividend • Apr 24
Upcoming dividend of US$0.54 per share Eligible shareholders must have bought the stock before 30 April 2025. Payment date: 14 May 2025. Payout ratio is on the higher end at 78%, and the cash payout ratio is above 100%. Trailing yield: 6.8%. Within top quartile of American dividend payers (5.0%). Higher than average of industry peers (4.2%). Declared Dividend • Apr 10
Fourth quarter dividend of US$0.54 announced Shareholders will receive a dividend of US$0.54. Ex-date: 30th April 2025 Payment date: 14th May 2025 Dividend yield will be 7.3%, which is higher than the industry average of 4.5%. Sustainability & Growth Dividend is covered by earnings (78% earnings payout ratio) but not covered by cash flows (130% cash payout ratio). The dividend has increased by an average of 4.0% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 15% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Recent Insider Transactions Derivative • Feb 20
Key Executive exercised options and sold US$5.1m worth of stock On the 16th of February, Richard Bachmann exercised options to acquire 151k shares at no cost and sold these for an average price of US$33.72 per share. This trade did not impact their existing holding. Since March 2024, Richard's direct individual holding has decreased from 2.00m shares to 1.98m. Company insiders have collectively sold US$15m more than they bought, via options and on-market transactions in the last 12 months. Reported Earnings • Feb 04
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: EPS: US$2.69 (up from US$2.52 in FY 2023). Revenue: US$56.2b (up 13% from FY 2023). Net income: US$5.90b (up 7.6% from FY 2023). Profit margin: 11% (in line with FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 1.6%. Revenue is forecast to grow 3.8% p.a. on average during the next 3 years, compared to a 3.6% growth forecast for the Oil and Gas industry in the US. Over the last 3 years on average, earnings per share has increased by 8% per year whereas the company’s share price has increased by 11% per year. Upcoming Dividend • Jan 24
Upcoming dividend of US$0.54 per share Eligible shareholders must have bought the stock before 31 January 2025. Payment date: 14 February 2025. Payout ratio is on the higher end at 78%, and the cash payout ratio is above 100%. Trailing yield: 6.3%. Within top quartile of American dividend payers (4.5%). Higher than average of industry peers (3.8%). Declared Dividend • Jan 10
Third quarter dividend of US$0.54 announced Shareholders will receive a dividend of US$0.54. Ex-date: 31st January 2025 Payment date: 14th February 2025 Dividend yield will be 6.5%, which is higher than the industry average of 4.5%. Sustainability & Growth Dividend is covered by earnings (78% earnings payout ratio) but not covered by cash flows (126% cash payout ratio). The dividend has increased by an average of 4.1% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 15% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • Oct 29
Third quarter 2024 earnings: EPS misses analyst expectations Third quarter 2024 results: EPS: US$0.65 (up from US$0.60 in 3Q 2023). Revenue: US$13.8b (up 15% from 3Q 2023). Net income: US$1.42b (up 8.5% from 3Q 2023). Profit margin: 10% (in line with 3Q 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 2.0%. Revenue is forecast to grow 2.5% p.a. on average during the next 3 years, compared to a 2.6% growth forecast for the Oil and Gas industry in the US. Over the last 3 years on average, earnings per share has increased by 10% per year whereas the company’s share price has increased by 9% per year. Upcoming Dividend • Oct 24
Upcoming dividend of US$0.53 per share Eligible shareholders must have bought the stock before 31 October 2024. Payment date: 14 November 2024. Payout ratio is on the higher end at 78%, and the cash payout ratio is above 100%. Trailing yield: 7.2%. Within top quartile of American dividend payers (4.5%). Higher than average of industry peers (4.0%). Declared Dividend • Oct 04
Second quarter dividend of US$0.53 announced Shareholders will receive a dividend of US$0.53. Ex-date: 31st October 2024 Payment date: 14th November 2024 Dividend yield will be 7.0%, which is higher than the industry average of 4.5%. Sustainability & Growth Dividend is covered by earnings (78% earnings payout ratio) but not covered by cash flows (126% cash payout ratio). The dividend has increased by an average of 4.3% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 14% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Aug 22
Enterprise Products Partners L.P. (NYSE:EPD) signed a definitive agreement to acquire Piñon Midstream, LLC from Black Bay Energy Capital, LLC for $950 million. Enterprise Products Partners L.P. (NYSE:EPD) signed a definitive agreement to acquire Piñon Midstream, LLC from Black Bay Energy Capital, LLC for $950 million in a debt-free transaction on August 21, 2024. A cash consideration of $950 million will be paid by Enterprise Products Partners L.P. The transaction is expected to be funded using cash on hand and borrowings under Enterprise’s existing commercial paper and bank credit facilities.
The transaction is subject to approval by regulatory board. This transaction is expected to be completed in the fourth quarter of 2024.
Piper Sandler & Co. acted as financial advisor for Piñon Midstream, LLC. Kirkland & Ellis LLP acted as legal advisor for Piñon Midstream, LLC. Locke Lord LLP acted as legal advisor for Enterprise Products Partners L.P. Sidley Austin LLP acted as legal advisor for Enterprise Products Partners L.P. Reported Earnings • Aug 01
Second quarter 2024 earnings: EPS and revenues miss analyst expectations Second quarter 2024 results: EPS: US$0.64 (up from US$0.57 in 2Q 2023). Revenue: US$13.5b (up 27% from 2Q 2023). Net income: US$1.41b (up 13% from 2Q 2023). Profit margin: 10% (down from 12% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 5.5%. Earnings per share (EPS) also missed analyst estimates by 1.9%. Revenue is forecast to grow 3.4% p.a. on average during the next 3 years, compared to a 2.4% growth forecast for the Oil and Gas industry in the US. Over the last 3 years on average, earnings per share has increased by 12% per year whereas the company’s share price has increased by 9% per year. Declared Dividend • Jul 14
First quarter dividend of US$0.53 announced Shareholders will receive a dividend of US$0.53. Ex-date: 31st July 2024 Payment date: 14th August 2024 Dividend yield will be 7.0%, which is higher than the industry average of 4.5%. Sustainability & Growth Dividend is covered by earnings (80% earnings payout ratio) but not covered by cash flows (101% cash payout ratio). The dividend has increased by an average of 4.1% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 14% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • May 01
First quarter 2024 earnings: EPS in line with analyst expectations despite revenue beat First quarter 2024 results: EPS: US$0.66 (up from US$0.63 in 1Q 2023). Revenue: US$14.8b (up 19% from 1Q 2023). Net income: US$1.46b (up 5.7% from 1Q 2023). Profit margin: 9.9% (down from 11% in 1Q 2023). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 6.8%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 2.9% p.a. on average during the next 3 years, compared to a 2.2% growth forecast for the Oil and Gas industry in the US. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Apr 22
Upcoming dividend of US$0.52 per share Eligible shareholders must have bought the stock before 29 April 2024. Payment date: 14 May 2024. Payout ratio and cash payout ratio are on the higher end at 79% and 100% respectively. Trailing yield: 7.1%. Within top quartile of American dividend payers (4.8%). Higher than average of industry peers (3.9%). Announcement • Apr 10
Enterprise Products Partners L.P. Receives Deepwater Port License for Spot Project Enterprise Products Partners L.P. announced that it has received the deepwater port license for the Sea Port Oil Terminal (‘SPOT’) from the United States Maritime Administration (‘MARAD’), an agency within the federal Department of Transportation. The license enables Enterprise to move forward to the next step in developing the offshore terminal capable of loading 2 million barrels per day (‘BPD’) of crude oil. Since the original application for a deepwater port license was submitted in January of 2019, Enterprise has worked diligently with various federal, state and local authorities, and participated in multiple public meetings that have allowed individuals and stakeholder groups to learn about the project and provide their comments to multiple environmental impact studies, including those translated into Spanish and Vietnamese. The exhaustive analysis associated with the project and continuous responses to requests for information from the various agencies produced more than 30,000 pages of documentation. As planned, the SPOT offshore platform would be located approximately 30 nautical miles off the Brazoria County, Texas coast in 115 feet of water, and will be manned 24 hours per day. The facility is designed to load VLCCs and other crude oil tankers up to a rate of 85,000 barrels per hour. In addition, dual 36-inch diameter, bi-directional pipelines would be built that connect to the company’s new Oyster Creek crude oil terminal in Brazoria County that would be constructed approximately 10 miles inland. With a direct connection to Enterprise’s Houston ECHO terminal, as well as the company’s extensive integrated midstream network, SPOT would offer access to more than 40 distinct grades of crude oil, including Midland WTI. SPOT reduces operational risks, including those associated with reverse lightering, an unregulated process in which crude oil is offloaded from multiple smaller ships onto a larger vessel in federal waters off the U.S. Gulf Coast. Limiting reverse lightering, combined with the SPOT platform’s state-of-the-art vapor combustion capabilities, would significantly reduce emissions. MARAD and U.S. Coast Guard led the comprehensive, four-year environmental review of this project. The reviews by more than a dozen federal governmental agencies, including the Army Corps of Engineers and Environmental Protection Agency, as well as reviews and approvals by the State of Texas. Highlighted below, are some of the notable findings from the record of decision, which SPOT received in November 2022: ‘The construction and operation of the Port is in the national interest because the Project will benefit employment, economic growth, and U.S. energy infrastructure resilience and security. The Port will provide a reliable source of crude oil to U.S. allies in the event of market disruption and have a minimal impact on the availability and cost of crude oil in the U.S. domestic market. Construction and operation of an offshore export terminal and the installation of a vapor combustion system at the DWP [deepwater port] will reduce the number of ship-to-ship transfers of crude oil and lessen emissions from conventional crude oil loading, thus providing a more efficient, less impactful crude oil transport facility within the offshore waters of the United States.’ ‘The Project will be constructed and operated using the best available technology. Operating safety and control features of the Project will include autonomous shutdown valves, HIPPs, fire and gas detection, emergency shutdown and safety controls, and process control systems. Declared Dividend • Apr 08
Fourth quarter dividend of US$0.52 announced Shareholders will receive a dividend of US$0.52. Ex-date: 29th April 2024 Payment date: 14th May 2024 Dividend yield will be 6.8%, which is higher than the industry average of 4.5%. Sustainability & Growth Dividend is covered by earnings (79% earnings payout ratio) but not covered by cash flows (104% cash payout ratio). The dividend has increased by an average of 4.4% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 13% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Apr 06
Enterprise Products Partners L.P. to Report Q1, 2024 Results on Apr 30, 2024 Enterprise Products Partners L.P. announced that they will report Q1, 2024 results Pre-Market on Apr 30, 2024 Announcement • Apr 05
Enterprise Products Partners L.P Declares Quarterly Distribution, Payable on May 14, 2024 Enterprise Products Partners L.P announced that the board of directors of its general partner declared a quarterly cash distribution to be paid to Enterprise common unitholders with respect to the first quarter of 2024 of $0.515 per unit, or $2.06 per unit on an annualized basis. The quarterly distribution will be paid May 14, 2024, to common unitholders of record as of the close of business Tuesday, April 30, 2024. This distribution represents a 5.1 percent increase over the distribution declared with respect to the first quarter of 2023. Announcement • Mar 13
Enterprise 2023 Schedule K-1 Tax Packages Now Available Enterprise Products Partners L.P. announced that its 2023 tax packages, including schedule K-1s, are now available online. Information reported on these tax packages could be subject to change given potential retroactive changes in tax law that are still being considered by Congress and the Biden administration. If the Tax Relief for American Families and Workers Act of 2024 (H.R.7024), which passed the House of Representatives on January 31, 2024, and is currently awaiting action in the Senate, were to become law, it may or may not require to make changes to tax reporting for 2023. Such changes may affect the information provided in these tax packages.